Gitennes’ Third Phase of Diamond Drilling Underway at its Snowbird High Grade Gold Project
Vancouver, B.C., – October 21, 2019 – Gitennes Exploration Inc. (“Gitennes” or the “Company”) – (TSXV – GIT) announces diamond drilling is underway on its Snowbird High Grade Gold Project located near Fort St. James, British Columbia. The programme which is focused on the Main Zone is progressing well with four holes completed and all four holes have intersected quartz veins of varying widths with core recoveries averaging 96 percent. Several of the holes in the programme will be oriented in directions not previously drilled as Gitennes will test the down dip extension of the Main Zone as mineralization appears to be steepening at depth and test potential cross structures. This is the Company’s third phase of diamond drilling at Snowbird and will be approximately 2,000 metres in ten holes.
The drill sites selected have the objective of intersecting high grade gold mineralization encountered by previous operators in diamond drilling; trenching and underground workings (see tables below). Gitennes’ review of historic drilling in combination with contemporary drilling from its Phase I and II programmes suggests that the gold mineralization in quartz veins steepens at depth. By drilling holes in directions previously not drilled this programme will more efficiently test the Main Zone at depth as almost all historical drilling has been to an average vertical depth of approximately 75 metres.
Table 1 – Historical Adit and Trench Sampling from the Main Zone
|Vein||Area||Total Length (m)||# of samples||Wtd ave Gold Grade (g/t)||Grade Range (g/t)|
|Main||Adit-East Wall||9.72||15||8.62||1.87 - 19.9|
|Adit-West Wall||8.36||14||691.61||4.67 - 4,602|
|Peg Leg||Trench||49.54||66||10.53||1.31 - 45.44|
Readers are cautioned that a “qualified person” (as defined by National Instrument 43-101) has not yet completed sufficient work to be able to verify the historical information, and therefore the information should not be relied upon.
Table 2 – Select Historical Drill Results:
|Hole||Gold (g/t)||Length (metres)|
Readers are cautioned that a “qualified person” (as defined by National Instrument 43-101) has not yet completed sufficient work to be able to verify the historical information, and therefore the information should not be relied upon
Gold in quartz veins is predominantly hosted within 10 metres of the footwall contact between the overlying mudstone altered ultramafic.
About Gitennes Exploration Inc.
Gitennes is in the business of exploring for and advancing mineral properties with a focus on high grade gold. The Company currently has two high grade gold exploration properties, Snowbird and Maroon, both in British Columbia and a 1% Net Smelter Returns royalty on the 18 million ounce Urumalqui Silver Project in Peru.
The scientific and technical information contained in this news release has been reviewed and approved by Justin Rensby (P.Geo.), technical adviser to the Company who is a “qualified person” within the meaning of National Instrument 43-101.
For further information on the Company, readers are referred to the Company’s website at www.gitennes.com and its Canadian regulatory filings on SEDAR at www.sedar.com.
Gitennes Exploration Inc.
For further information, please contact: Ken Booth
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable Canadian securities laws concerning the business, operations and financial performance and condition of the Company. All statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations and orientations regarding the future. Often, but not always, forward-looking statements can be identified by words such as “pro forma”, “plans”, “expects”, “may”, “should”, “budget”, “schedules”, estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Such forward-looking statements include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the exercise of the Option to acquire the Snowbird Project and to conduct exploration activities thereon. Actual results could differ from those projected in any forward-looking statements due to numerous factors including risks and uncertainties relating to exploration and development and actual results of exploration activities; the ability of the Company to obtain additional financing; delays in obtaining governmental and regulatory approvals (including of the TSX-V), permits or financing; the need to comply with environmental and governmental regulations; potential defects in title to the Company’s properties; fluctuations in the prices of commodities and precious metals; operating hazards and risks; environmental issues and liabilities; and competition and other risks and uncertainties of the mining industry. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that those beliefs, plans, expectations or intentions will prove to be accurate. Readers should consider all of the information set forth herein and should review the Company’s periodic reports filed from time-to-time with Canadian securities regulators. These reports and the Company’s filings are available at www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as otherwise required by law, the Company undertakes no obligation to update the forward-looking statements contained herein, or to update the reasons why actual results could differ from those projected in these forward-looking statements.